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Early Lesson Losing First Investment
- Chris lost all his money on his first real investment in a Norwegian tanker company that went to zero.
- This painful experience taught him early to focus intensely on reading and understanding financial statements.
Starting Firm With Experienced Client
- Chris started his own investment firm before age 30 after winning over a highly experienced elderly client.
- Convincing the client to sell expensive GE shares was a key early success demonstrating his value investing approach.
Read Every Footnote Carefully
- Always read every footnote in financial statements, especially accounting policies and revenue recognition.
- These details reveal crucial information often missed by analysts, providing an edge in valuation.